Created by law and does not possess physical attributes of a natural person.
legal status like a natural person
Involves preparation of several documents and compliance of several legal requirements.
Company comes into existence only when it is registered under the Indian Companies Act.
A company exists independent of its members.
Make contracts, purchase and sell things, employ people and conduct any lawful business in its own name.
Shareholder cannot be held responsible for the acts of the company.
No physical existence.
All contracts entered by them shall have to be under the common seal of the company.
Common seal is the official signature of the company.
Company enjoys continuous existence.
Death, lunacy, insolvency or retirement of the members does not affect the life of the company
The liability of a member is limited to the extent of the amount of shares he holds.
a shareholder can be held liable only to the extent of the face value of the shares he holds
Members of the company (Public company) are free to transfer the shares held by them to others as and when they like.
Not need the consent of other shareholders to transfer their shares.
Minimum of two members and maximum 50 members are required in private limited company.
Minimum Seven members and no maximum limit in public limited company.
People of different categories and areas contribute towards the capital of a company.
Not possible for them to look after the day-to-day management of the company.